Wheat futures fell to their lowest in a year

Date

12/2/2022 3:00:07 PM

(MENAFN– Khaberni)

Tell me – Wheat futures on the Chicago Mercantile Exchange fell to $7.4/bushel, the lowest level since October 2021, amid strong supplies from the world’s major producers and signs of declining global demand.

Russia achieved a record harvest this year, and shipments from Ukraine continued through Black Sea ports after Russia agreed to extend a United Nations-brokered deal that guarantees trade passage for ships carrying Ukrainian grain in the Black Sea for another four months.

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